Gaming is a very old pastime that dates back to ancient times, when games were played using simple tools like dice. The early days of video gaming emerged in the late 1970s and early 1980s, and since then, it has only continued to evolve, providing users with better immersive and engaging experiences.
Due to the integration of technologies like VR and AR, gaming is now a multibillion-dollar global industry. Among all the innovations that have contributed to the expansion of gaming is the blockchain, a digital ledger widely known for its transparency and security.
This technology is popular, especially due to its association with cryptocurrency, powering the system and storing transaction data in blocks, linked together cryptographically to create a chain.
It is safe to say that one of the reasons why so many people are monitoring the sol to usd value is this incredible technology that eliminates the need for banks, and increases trust, while providing control of one’s own money.
While blockchain’s value in the cryptocurrency ecosystem is undeniable, this blog aims to focus on its role within the gaming industry. Ready to learn more about its implications? Let’s begin!
What Is Blockchain Gaming?
Blockchain gaming is a new chapter in the video game sector, transforming the experience of players and offering exciting incentives that keep them more engaged and give real value. Traditional video games, while exciting, are centralized. For players, this means that they don’t own anything in the game, and there is no crossover between the game and real life.
In other words, at the end of the day, it doesn’t matter that you’ve earned many points and gaming assets, because they all disappear right after you switch off and go about your day. You cannot sell or use them anywhere. That’s not very exciting, is it?
Enter blockchain gaming, which bridges the real and digital worlds by offering players the opportunity to utilize in-game rewards outside of gaming sessions.
There are no privately owned platforms to control your assets, and you can retain ownership of skins, weapons, characters, land, and so on, in the form of NFTs, or non-fungible tokens. You can then use these NFTs on secondary markets, creating a gaming asset economy that goes beyond the game itself.
What Does Blockchain Gaming Bring to The Industry?
We’ve mentioned briefly the unique characteristics of blockchain gaming, but let’s delve a little deeper into that:
- Cross-Platform Asset Interoperability. Can you imagine utilizing a sword you earned in one game in another game, or being able to see a character you level up in an entirely different virtual world, recognizing its unique history and attributes? Well, blockchain makes it a reality, creating persistent value for players and building stronger loyalty.
- Play-to-Earn Economics. Not long ago, it was possible to earn money from your gaming skills, but this was from third parties rather than the game itself. Blockchain gaming changes the rules, allowing you to earn real money as you play, whether that means collecting rare NFTs or in-game digital tokens. And in all honesty, who wouldn’t feel motivated to play when you literally can make a steady income by selling those tokens later in the marketplace?
- Decentralization. You’ve likely experienced it before: a server crashing, the game getting shut down by developers. Within minutes, you get kicked out of the game and cannot access any goods anymore. The frustration is real and makes you question whether you’re truly owning anything at all in these digital worlds, or only borrowing access without little control over what could happen. The good news? Blockchain games are set up to be either partially or fully decentralized, meaning that the game rules and data are saved on the digital ledger and not on central servers, so you get more control over your goods, and peace of mind knowing that such issues won’t disrupt your gameplay.
- Improved Security and Fraud Prevention. In traditional gaming, issues such as item duplication, cheating, and fraudulent transactions affect many players, compromising their security. Let’s be honest: when you sit down at your computer to play a game, you want to have a good time, not worry about security. With blockchain, you get peace of mind because its immutable ledger safeguards your assets, ensures secure transactions through smart contracts, and employs an anti-cheat system to make each player’s actions verifiable and difficult to falsify.
Real-World Examples of Blockchain Games
When talking about the impact of blockchain in the gaming industry, it’s essential to look at best games that have been developed, kickstarting the Web3 play-to-earn games revolution:
- Axie Infinity. This one’s a pioneering blockchain game, so you may have heard about it. Drawing inspiration from Pokémon, it requires players to breed, raise, and battle creatures named Axies, in the form of NFTs. The native token of the game is AXS, which players can hold if they win battles and successfully breed their Axies. They can also sell or trade their Axie NFTs on the open market. Here’s an interesting fact: some players have actually opted for Axie Infinity over a full-time job, which is quite proof of the game’s potential and use cases in real life. Ever since its launch, the game has seen ongoing developments, and today, it offers various game modes, including Homeland, Origins, Classic, and Project T Prototype.
- Decentraland. This is a 3D game that offers players the opportunity to create their own virtual world on the blockchain, which they can later buy and sell as NFTs. The platform utilizes the MANA token as its currency, allowing users to profit from their virtual real estate on secondary markets, which contributes to a dynamic digital economy. If you cannot get enough of VR, this is the perfect game for you, as it focuses on the open-ended creation of user-generated environments.
- The Sandbox. Highly praised for its creative potential, the Sandbox gives users the unique opportunity to design their own games within the platform. They can also interact with other players and trade digital assets, be it land or a character. The most exciting part is that The Sandbox is designed in a voxel-based art style, similar to Minecraft, so if you loved the best-selling game, you’ll likely love The Sandbox, too.
The bottom line
Blockchain’s potential is already reflected in today’s immersive games, which offer opportunities for real profit. In the future, it will likely see more useful features that will take players’ experiences to a whole new level. Will you keep an eye on this revolutionary technology to witness its evolution?
